HOSPA has announced a partnership with Venue Performance, a venue benchmarking group, that offers data-driven insights to hospitality venues to help them make informed decisions.
The agreement will give HOSPA access to data that will allow it to keep members informed about trading and trends within the meetings and events industry – offering powerful insights to help its members stay abreast of market conditions.
Jane Pendlebury, HOSPA CEO, said, “Data enables us to understand the lay of the land in a more nuanced and informed way. It offers added insight on that of first-hand experience or even gut feel – helping us appreciate the wider impact of decision making. Given this, at HOSPA we’re delighted to work with Venue Performance as the data the team there produces is both insightful and empowering.”
She added, “We are always keen to share this kind of valuable analysis with our members. Hospitality venues need sight of all the information available to them in order to make crucial business decisions – and this will certainly help in that.”
Peter Heath, MD, Venue Performance, said, “HOSPA members will, for the first time, be able to understand what their performance means against their competitors, as well as by region and by different types of venues.
“The hotel sector has been able to access benchmarking data for a number of years, but this is the first time for the meetings and events industry. Members will be able to understand more about trends, prevailing winds and different markets around the UK and gain an understanding of what's happening and why.”
In Venue Performance’s most-recent update for HOSPA, the company reported several promising metrics, including an average of 15 conferences already booked per venue for 2022, compared to an average of 18 delivered all last year.
Heath said: “I sense that 2022 will be a strong year, but if history has told us one thing, it's that keeping an eye on the competition and the broader market will be more critical in 2022 than ever.
“The pandemic hit the sector hard, but business is now picking up and returning to previous models. We are seeing virtual conferences tailing off and a return of the larger gatherings which stopped during the pandemic. People are eager to meet face to face again.”
Recognised as one of the UK’s foremost authoritative voices in the hospitality industry, HOSPA’s influences reaches thousands of individuals from various strands of hospitality